Guaranteed Issue Health Care Plans

The key benefit of Guaranteed Issue extended heath care plans will cover any pre-existing medical conditions you may have - so long as you apply within 60-90 days of your employee group benefits terminating.

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This is beneficial for those who have health history that may result in exclusions, or even potentially being declined for coverage if applying for a Medically Underwritten plan.

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The 'caveat' to a Guaranteed Issue plan, is that the insurer tends to assume that anyone applying for this type of plan has some health history, and for that reason will design the plans (for both profitability and sustainability reasons) to offer lower amounts of coverage at a higher relative cost compared to Medically Underwritten plans.

It depends on the type of plan.

• For Guaranteed Issue and Guaranteed Acceptance plans, your coverage will be effective on the 1st of the next month after an application and payment is received.
• For Medically Underwritten plans, your coverage coverage will be effective on the 1st of the next month after an application has been approved (subject to qualifying medically) and payment is received.
• Medically Underwritten plans can sometimes take longer as the insurance company usually needs to obtain records from your attending physician(s). Average time to approval tends to be about 3-weeks. If the insurance company has difficulty obtaining the medical records from your attending physician(s) this may take additional time.